28 Jul 2011Besi Q2-11 Revenue and Profit Meet Expectations. Record H1 Revenue and Net Income
Duiven, the Netherlands, July 28, 2011 - BE Semiconductor Industries N.V. ("the Company" or "Besi") (NYSE Euronext: BESI; OTCQX: BESIY), a leading manufacturer of assembly equipment for the semiconductor industry, today announced its results for the second quarter ended June 30, 2011.
Q2-11 revenue 89.9 million in line with prior guidance (approximately 91 million) and similar to Q2-10
Orders of 82.5 million down 6.6% sequentially vs. Q1-11 due to customer caution in adding new capacity partially offset by increased orders for advanced packaging applications
Gross margin of 41.2% at high end of prior guidance (39-41%)
Net income of 8.8 million in Q2-11 within guidance
Record H1 revenue and net income of 180.9 million and 18.4 million up 23.9% and 43.7% vs. H1-10
Net cash increases to 45.7 million vs. 19.6 million in Q1-11 due to redemption of Convertible Notes
Commencement of stock buy back program to reduce share dilution from Note conversion
For complete press release, see download on the right.